As the book mentions China and India have had an explosion in their spending power, especially in the young and upper class. I believe in years to come their part in the global market will only become greater. Also mentioned in the book in these classes wants for luxury products especially those america has to offer like Starbucks. This is a huge market opening for marketers to take advantage of. I believe organizations should start considering the best way to produce and market products in these developing countries. there were undoubtedly be many variables for marketers to consider the biggest of which being culture and the political structure. However I believe that with such a young grow of consumers marketers will be very successful in marketing products in these areas.
What do you think will be the biggest challenges companies face in entering these new markets? Why?
I think marketers might face the most resistance when a country has a very strong desire to preserve their culture. Countries such as these will often create policies to prevent less products. An example of this is that 45% of Canadian music must be Canadian in origin. When quotas like that are set, this makes marketing and getting into markets very difficult when establishing a new product in a country is already difficult without policies in place to preserve their culture. How would you approach marketing to one such country? Would you choose to market to the country at all if a quota was too high?
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